China's economy is expected to slow to worst pace since financial crisis as coronavirus spreads
'Unpredictable supply chain interruptions and continued contagion risks suggest a return to full capacity remains weeks away,' one analyst said.Foto: Thomas Peter/Reuters A man sprays disinfectant at a highway rest stop outside Anqing as China faces a public health crisis. A deadly viral outbreak is dragging on activity in China and throughout the world. That could drag the second-largest economy to its slowest pace of growth since the 2008 global financial crisis, according to a new poll. But economists expect that the economy will recover as soon as the second quarter, propping up full-year growth. Visit Business Insider’s homepage for more stories . China could expand at the slowest pace since the 2008 global financial crisis this quarter, as a deadly viral outbreak drags on activity in the second-largest economy, a poll showed on Friday. Economic growth is expected to slump to 4.5% in the first quarter from 6% in the previous one, according to the Reuters poll of 40 economists based in mainland China, Hong Kong, Singapore, Europe, and the US. The poll was conducted February 7-13. The novel coronavirus has killed more than 1,350 and sickened tens of thousands more in at least two dozen countries, the World Health Organization said in its latest situation report. China, the epicenter of the outbreak, has seen fatalities and new cases rise sharply in recent days. Sustained disruptions could drag 2020 growth to 5.5%, the poll said, which would be its slowest pace since at least the 1990s and compared with 6.1% in 2019. But economists expect that the economy will recover as soon as the second quarter, propping up full-year growth. „A patchwork of quarantine policies, unpredictable supply chain interruptions and continued contagion risks suggest a return to full capacity remains weeks away,“ said Mark Haefele, the chief investment officer at UBS. „But despite these challenges, we still expect the economic and earnings impact to be relatively contained, and limited mostly to China.“ Moody’s Analytics revised its forecast for China 0.2% lower for the first quarter, adding that growth was likely to rebound. Still, the financial intelligence firm noted that significant uncertainty remained. „The impact on China’s economy in the first quarter won’t be known for a little bit,“ said Ryan Sweet, an economist at Moody’s. „We won’t get hard data on the impact of the coronavirus until sometime in March, and even those will be backward-looking.“ Teile diesen Artikel Read more: Business Insider
China arrests former China Development Bank chairman: mediaFirmer China Development Bank chairman Hu Huaibang has been arrested for suspect... Crooks enterprise Face-Off TRUMPS LOANS ARE THERE ...MAYBE THEY SHOULD MAKE HIM PAY UP..
Virus death toll nears 1,400 in China, cruise ship disembarks in CambodiaChina reported 121 more deaths and 5,090 new confirmed cases. Meanwhile, a WHO official said the spike in the number of cases reported does not represent a significant change in the trajectory of the outbreak.
China virus death toll surges on switch to new methodologyThe death toll in China's Hubei province from the coronavirus outbreak leaps by a record 242 to 1,355, and the total number of nationwide infections to nearly 60,000 after the adoption of new methodology for diagnosis.
Confirmed Covid-19 cases top 60,000 as China expands what counts as diagnosisThe Chinese province at the center of the novel coronavirus outbreak reported a record spike in deaths Thursday, bringing the total number to more than 1,300 people globally, as experts warned the epidemic could 'create havoc' in less prepared countries. Another 8k should die within 2 weeks. I hope this ends up being the flushing sound before our civilization disappears down the crapper
China writes off 108 deaths in Hubei, citing double-counting error in provinceFriday's report is the second day in a row the province's data has caused major changes to a nationwide figure. And it adds to doubts many have about the accuracy of the data. Ok. This is getting ridiculous. China is so full of crap. Sure... Keeps changing, changing, and changing until you have the golden graph
Latest on coronavirus spreading in China and beyondHere are the latest developments around the coronavirus outbreak: That’s why I stopped drinking Corona. What is it wilth Communist countries hiding disasters until it spills across their borders? I expect HBO to release a mini-series soon called Chernobyl...I mean Corona. If anyone wants to give a gift of love to HK today. Please help sign this. Last day. Needs 18,500 people ‘s love. Pls confirm your love too. ❤️🌹